Fast Selling Park City Neighborhood
Recently local lender Rick Klein at Wells Fargo calculated from data he obtained from the Park City Board of Realtors the absorption rates for the various Park City Utah neighborhoods. It turned out for both condos and single family homes that the fastest selling area for the First Quarter of 2014 is the Silver Springs neighborhood. The absorption rate of condos for sale is 1.5 months and the absorption rate for homes for sale is 1.03 months.
This is a popular neighborhood for families who live here full time with young children. This area is flat with lots of trails and parks throughout the neighborhood that are kid friendly. It is also a great central location close to shopping in the Kimball Junction area and walking distance to Parleys Park Elementary School. For the First Quarter of 2014 the average sold price for single family homes was $760,813 which is up 16.4% compared to 2013. The average sold price for condo/townhomes was $328,000 which was actually down 12% compared to 2013. There are not many options for condo/townhomes in the Silver Springs area but they do offer an affordable option for families with a budget that want to live in this popular area in Park City.
Visit Silver Springs Homes to search all properties currently for sale in the Silver Springs area Park City Utah. Listings are updated daily. Below is a neighborhood video tour of the Silver Springs area.